iPhone 5, N94 now listed in Apple’s inventory

According to a new inside tip, Apple updated its inventory system today with the iPhone 5. Yesterday, we reported that two iPhones and three iPod touch devices had been added to the system, but that the codenames associated with those devices suggested that they were only minor upgrades, possibly the rumored iPhone 4S. Today’s inventory update, however, adds the N94 device, which has long been rumored as the codename for the iPhone 5.

Speculation has been going back and forth as to whether Apple will be releasing a radically redesigned iPhone 5 or a very minor update in the form of an iPhone 4S. Some have suggested that Apple would launch both with the iPhone 4S being a low-priced alternative that would look nearly identical to the current iPhone 4.

The radical update believed to be the iPhone 5 is expected to feature a larger display and hence a larger footprint with a thinner profile and rounded, tapered edges. We’ve seen this form in several leaked case designs. It’s also believed to feature a new dual-core A5 processor, 1GB of RAM, and an 8-megapixel camera.

There is also the possibility, as pointed out by 9to5Mac, that the next-gen iPhone may simply be called the iPhone 4S, with yesterday’s listing of two new models simply being 8GB white and black models of the current iPhone 4. We’ll all just have to wait until next Tuesday, October 4, to find out for sure at Apple’s “Let’s talk iPhone” event, where the company is expected to also debut its iOS 5 and the iCloud. So make sure to tune in to our live feed for the event.